NARENDER JINDAL,DELHI vs. ITO WARD 63(3), NEW DELHI
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Income Tax Appellate Tribunal, DELHI BENCH ‘E’, NEW DELHI
Before: Dr. B. R. R. KumarSh. Yogesh Kumar US
Per Dr. B. R. R. Kumar, Accountant Member:
The present appeal has been filed by the assessee against the order of ld. CIT(A)-20, New Delhi dated 25.02.2019.
It has been brought to our notice that the quantum addition stands restored back to the file of AO by the order of the Tribunal in ITA No. 2385/Del/2019 dated 17.03.2021 to decide the issues as per the facts and law after granting an opportunity to the assessee to substantiate his case and hence the penalty levied by the revenue do not sustain at this juncture. The AO would be at liberty to initiate the penalty proceedings de novo after finalization of the assessment as per the provisions of the Income Tax Act, 1961.
ITA No. 6340/Del/2019 2 Narender Jindal
In the result, the appeal of the assessee is allowed for statistical purpose. Order Pronounced in the Open Court on 30/11/2022.
Sd/- Sd/- (Yogesh Kumar US) (Dr. B. R. R. Kumar) Judicial Member Accountant Member Dated: 30/11/2022 *Subodh Kumar, Sr. PS* Copy forwarded to: 1. Appellant 2. Respondent 3. CIT 4. CIT(Appeals) 5. DR: ITAT ASSISTANT REGISTRAR